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Rainbow similarity

  • #21
  • Edited 10:44am Aug 27, 2014 10:13am | Edited 10:44am
so much ranging
  • #22
  • Aug 27, 2014 10:55am Aug 27, 2014 10:55am
MEDIUM RISK because similarity was shown(maybe reverse)

thats the last for today i think. so much ranging.
banked +246p not bad for such a day. in some case we have this ammount of pips in 1 trade.
anyway, lets call it a day.

i will have a look at the thread to answer questions. feel free to ask.

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  • #23
  • Aug 27, 2014 11:10am Aug 27, 2014 11:10am
I like your system. Thanks for sharing!!

Which currencies do you trade using this system?

Thanks.

Caroline
  • #24
  • Aug 27, 2014 11:15am Aug 27, 2014 11:15am
Quoting jimmY213
UJ MEDIUM RISK another trade i took a few minutes ago. i took my profits fast because the rainbow wasnt in his full beauty maybe re-entry time will tell. +50p {image}

Got to compliment on those colorful charts....
  • #25
  • Aug 27, 2014 11:32am Aug 27, 2014 11:32am
Quoting Eureka
I like your system. Thanks for sharing!! Which currencies do you trade using this system? Thanks. Caroline
because of the fact its a scalping system i trade pairs with low spread. in my case that is USD/JPY, EUR/USD, AUS/USD, GBP/USD, DE30, EUR/JPY, EUR/GBP, GBP/JPY. we need a good volatility for this to work well.

Quote
Got to compliment on those colorful charts....

thanks.
my grandfather once came into my office and asked me which nice game i play.
  • #26
  • Aug 27, 2014 12:29pm Aug 27, 2014 12:29pm
to make it simple ,
Entry(Least risk)
1.WHOLE RAINBOW IS UNDER/ABOVE WHITE LINE
2.MBFX IS RED(SHORT)/GREEN(LONG)
3.TREND IS IDENTIFIED AND CONFIRMED WITH MBFX

How do u use the MBFX INDICATOR ? like there are levels , do u sell at the highest level when mbfx turns red or .... ?
  • #27
  • Edited 1:15pm Aug 27, 2014 1:03pm | Edited 1:15pm
Quoting jasonhaw
to make it simple , Entry(Least risk) 1.WHOLE RAINBOW IS UNDER/ABOVE WHITE LINE 2.MBFX IS RED(SHORT)/GREEN(LONG) 3.TREND IS IDENTIFIED AND CONFIRMED WITH MBFX How do u use the MBFX INDICATOR ? like there are levels , do u sell at the highest level when mbfx turns red or .... ?
You missed an important fact NOT to trade, when rainbow is down and CI heads the other direction. Or at least Know, that it is a HIGH RISK trade. I personaly trade, when MBFX turns yellow the levels are Not that important. When CI indicates and MBFX turns yellow we have a Setup. Wait For the crurrent candle to close. If nothing changes enter the trade
But that is just the way i trade this. May you find a better setup? Thats possible. If you Do so, let us Know.
  • #28
  • Aug 27, 2014 3:48pm Aug 27, 2014 3:48pm
Quoting jimmY213
{quote} You missed an important fact NOT to trade, when rainbow is down and CI heads the other direction. Or at least Know, that it is a HIGH RISK trade. I personaly trade, when MBFX turns yellow the levels are Not that important. When CI indicates and MBFX turns yellow we have a Setup. Wait For the crurrent candle to close. If nothing changes enter the trade But that is just the way i trade this. May you find a better setup? Thats possible. If you Do so, let us Know.
Does CI repaints ? if so , how many bars do we have to wait before it doesnt repaint ? 1 , 2 ,3 candles closed ?
  • #29
  • Aug 27, 2014 9:01pm Aug 27, 2014 9:01pm
Wow, age old Rainbow revisited!
You may find good postings from Misspip and THV thead as well:
http://www.forexfactory.com/misspips

Although some people criticise rainbow as a chrismas tree like toy, i love rainbow simply because it's beautiful.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #30
  • Aug 27, 2014 10:03pm Aug 27, 2014 10:03pm
Quoting jimmY213
so much ranging
Love range
green pips
In trading, you have to be defensive and aggressive at the same time
  • #31
  • Aug 28, 2014 12:42am Aug 28, 2014 12:42am
LOW RISK
missed this almost perfect entry , but i was asleep.
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  • #32
  • Aug 28, 2014 12:52am Aug 28, 2014 12:52am
Quoting jasonhaw
{quote} Does CI repaints ? if so , how many bars do we have to wait before it doesnt repaint ? 1 , 2 ,3 candles closed ?
you cant say this excatly it can repaint within 10 minutes but according to TF, for example if you have a "TOP" and CI indicates and if its against the rainbow the chance of repainting is high, because trend is still up! Just a small retrace will happen if at all. i think to wait for 1 closed candle is enough.
  • #33
  • Aug 28, 2014 12:55am Aug 28, 2014 12:55am
Quoting heispark
Wow, age old Rainbow revisited! You may find good postings from Misspip and THV thead as well: http://www.forexfactory.com/misspips Although some people criticise rainbow as a chrismas tree like toy, i love rainbow simply because it's beautiful.
why do they criticise this awesome tool? i guess for them its heavy to see ranging which is not good for the system. if you use just the rainbow.
  • #34
  • Edited 1:31am Aug 28, 2014 1:05am | Edited 1:31am
MEDIUM RISK because ot the red spikes
hoping for this just to be a retrace. if CI shows and MBFX turn yellow i will jump in.

edit:entered EU
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took profit, because of the similarity of CI(possible reverse).
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same here. but H1 is ranging or maybe reverse. we can not know. so fast TP
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  • #35
  • Aug 28, 2014 1:30am Aug 28, 2014 1:30am
So what exit rule works for you ?
  • #36
  • Aug 28, 2014 1:37am Aug 28, 2014 1:37am
Quoting jasonhaw
So what exit rule works for you ?
thats the question. in this paricular case it was because of the similarity and the fear of a reverse. a matter of feeling and there we have the problem.:nerd:
the word "feeling"!
  • #37
  • Edited 2:04am Aug 28, 2014 1:43am | Edited 2:04am
MEDIUM RISK
GA just a few pip because of CI-similarity
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edit: still fighting with GU

edit: SL hit -70pip
  • #38
  • Aug 28, 2014 2:12am Aug 28, 2014 2:12am
MEDIUM RISK
re-entered EU, that was one fast scalp 2 1/2 min on M15 TF
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  • #39
  • Aug 28, 2014 2:22am Aug 28, 2014 2:22am
great work jimmy , thank you for sharing your hard work.keep up .
  • #40
  • Aug 28, 2014 2:39am Aug 28, 2014 2:39am
Quoting zarkon
great work jimmy , thank you for sharing your hard work.keep up .
thank you. will you try it or did you found your "holy grail" allready?

MEDIUM RISK
another quick scalp on UJ
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